Londoners need average £90k deposit

31st March 2017

The average deposit put down by a first-time buyer in London has soared from £57,393 to £87,853 over five years, according to Lloyds Bank data, which also shows that the cost of an average first home in the capital has hit £405,106. Nationwide, Lloyds said, the average deposit is £37,570. The average first-time buyer's mortgage in the capital is £317,253 - up from £185,538 in 2012 and almost twice the UK average for a new first-time buyer, which stands at £168,296.

Independent I (29/03/2017)